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Other Postretirement Benefits (Tables) - Other Postretirement Benefit Plans
12 Months Ended
Dec. 31, 2022
Other Postretirement Benefits  
Schedule of Components of Net Periodic Postretirement Benefit Cost
The components of net periodic postretirement benefit cost/(income) were as follows:
(In thousands)December 31,
2022
December 26,
2021
December 27,
2020
Service cost$46 $53 $29 
Interest cost731 565 1,026 
Amortization and other costs3,293 3,407 3,051 
Amortization of prior service credit(368)(3,098)(4,225)
Net periodic postretirement benefit cost/(income)$3,702 $927 $(119)
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
The changes in the benefit obligations recognized in other comprehensive loss were as follows:
(In thousands)December 31,
2022
December 26,
2021
December 27,
2020
Net actuarial (gain)/loss$(6,801)$2,254 $4,044 
Amortization of loss(3,293)(3,407)(3,051)
Amortization of prior service credit368 3,098 4,225 
Total recognized in other comprehensive (income)/loss(9,726)1,945 5,218 
Net periodic postretirement benefit cost/(income)3,702 927 (119)
Total recognized in net periodic postretirement benefit cost/(income) and other comprehensive (income)/loss$(6,024)$2,872 $5,099 
Schedule of Changes in Projected Benefit Obligations and Plan Assets
The changes in the benefit obligation and plan assets and other amounts recognized in other comprehensive loss were as follows:
(In thousands)December 31,
2022
December 26,
2021
Change in benefit obligation
Benefit obligation at beginning of year$40,607 $43,308 
Service cost46 53 
Interest cost731 565 
Plan participants’ contributions2,271 2,319 
Actuarial (gain)/loss(6,801)2,254 
Benefits paid(6,158)(7,892)
Benefit obligation at the end of year30,696 40,607 
Change in plan assets
Employer contributions3,887 5,573 
Plan participants’ contributions2,271 2,319 
Benefits paid(6,158)(7,892)
Fair value of plan assets at end of year — 
Net amount recognized$(30,696)$(40,607)
Amount recognized in the Consolidated Balance Sheets
Current liabilities$(4,241)$(4,521)
Noncurrent liabilities(26,455)(36,086)
Net amount recognized$(30,696)$(40,607)
Amount recognized in accumulated other comprehensive loss
Actuarial loss$15,537 $25,632 
Prior service credit (368)
Total$15,537 $25,264 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Information for postretirement plans with accumulated benefit obligations in excess of plan assets was as follows:
(In thousands)December 31,
2022
December 26,
2021
Accumulated benefit obligation$30,696 $40,607 
Fair value of plan assets$ $— 
Schedule of Assumptions Used
Weighted-average assumptions used in the actuarial computations to determine the postretirement benefit obligations were as follows:
December 31,
2022
December 26,
2021
Discount rate5.55 %2.55 %
Estimated increase in compensation level3.50 %3.50 %
Weighted-average assumptions used in the actuarial computations to determine net periodic postretirement cost were as follows:
December 31,
2022
December 26,
2021
December 27,
2020
Discount rate for determining projected benefit obligation2.55 %2.01 %2.94 %
Discount rate in effect for determining service cost2.58 %2.09 %3.04 %
Discount rate in effect for determining interest cost1.91 %1.38 %2.55 %
Estimated increase in compensation level3.50 %3.50 %3.50 %
Schedule of Health Care Cost Trend Rates
The assumed health-care cost trend rates were as follows:
December 31,
2022
December 26,
2021
Health-care cost trend rate6.75 %5.99 %
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)4.92 %4.92 %
Year that the rate reaches the ultimate trend rate20302030
Schedule of Expected Benefit Payments
The following benefit payments (net of plan participant contributions) under our Company’s postretirement plans, which reflect expected future services, are expected to be paid:
(In thousands)Amount
2023$4,407 
20244,086 
20253,796 
20263,516 
20273,251 
2028-2032(1)
12,582 
(1)While benefit payments under these plans are expected to continue beyond 2032, we have presented in this table only those benefit payments estimated over the next 10 years.